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August 24, 2005
Excellent gold review, Wed., August 24, 2005, 6:47 AM
Yesterday for an hour on ROBTV, host Jim O'Connell spent a terrific hour with John Embry, who is a Toronto stockbroker well known for his expertise in the goldminer industry. He manages a Fund that invests up to 20 pct of some of the best small gold prospectors and miners. He speaks with authority, unlike many others who campaign in the media to promote their books and seminar schedules.
I think, if you have the interest in gold, you ought to catch a replay.
Simply go to www.robtv.com, and click on View all past video" at the bottom of the center section of the home page. Videos are archived for a week. Yesterday " Tuesday " has a full schedule of videos but the two (below without link) with O'Connell/Embry are worthy of your time.
BTW, John Embry is expecting a significant upside breakout in gold bullion contracts in the near future. He thinks that a market event could cause the longs to overwhelm the shorts on COMEX, and that the gold price could pop by $50 or more.
There is a lot of shorting, but, from what I can see in the forward market, much of it would be hedged. See below. But John Embry is much closer to these things than I.
Besides, I am calling for a breakout soon, too.
Posted by Posted by Bill Cara on August 24, 2005 06:48:40 AM | Category: Gold , Gold Explorers , Goldminer Producers
Discourse
He is looking for four figure ($1000) gold by the end of the decade! That would be huge psychologically.
Posted by: Mark at August 24, 2005 4:31 PM [link]
Interesting... read the same on Fleckenstein 2 days ago... he says that gold may either drop by up to $50 or go up by $50 based on who 'wins' the trading tug-of-war here....
MW
Posted by: mike wilmot at August 24, 2005 7:05 AM [link]